CBSE Overview

Milestone Celebration: Clough Capital celebrates the five-year anniversary of its actively managed ETFs, the Clough Select Equity ETF (CBSE) and Clough Hedged Equity ETF (CBLS), which were launched in November 2020 and have contributed to the growing prominence of active management in the ETF market.

Performance Highlights: As of November 2025, CBSE has consistently ranked in the top quartile of its category and has outperformed its benchmark significantly, while CBLS aims for capital appreciation with reduced volatility through a combination of long and short equity positions.

Growth and Strategy: Clough Capital's assets under management have reached $1.4 billion, with the combined ETF assets totaling $75.3 million as of October 2025, reflecting a commitment to high-conviction investing based on research rather than market trends.

Future Outlook: Clough Capital plans to continue its focus on thoughtful, active management, emphasizing the importance of fundamentals in investment strategies as the market evolves.

Analyst Coverage Initiation: Barton Crockett from Rosenblatt has initiated coverage on Magnite, Inc. with a Buy rating and a price target of $18, highlighting the company's growth despite challenges posed by Google and its potential for further expansion in the Connected TV and programmatic advertising sectors.

Revenue Forecasts and Market Position: The analyst projects revenues of $747 million for 2025 and $819 million for 2026, slightly below consensus estimates, while suggesting that macroeconomic conditions may improve post-2026, potentially benefiting Magnite's performance.

Kosmos Energy's Gas Production Start: Kosmos Energy Ltd. announced the commencement of gas production at the Greater Tortue Ahmeyim LNG project, with Phase 1 expected to produce 2.3 million tonnes of LNG annually, marking a significant milestone for the partnership and West Africa's LNG ambitions.

Financial Outlook and Stock Performance: Following the announcement, KOS shares rose by 3.22% in premarket trading, while the company aims to enhance financial resilience through disciplined capital allocation and reducing leverage as it ramps up production towards its target of ~90,000 boepd.

Expansion of MRO Services: Embraer S.A. is expanding its maintenance, repair, and overhaul services in the U.S. with a new service center at Perot Field Alliance Airport in Fort Worth, Texas, set to open by 2025, increasing E-Jet service capacity by 53% and creating around 250 jobs.

Investment and Regional Impact: The expansion involves an investment of up to $70 million and aims to strengthen North Texas as a hub for aerospace innovation, benefiting both Embraer and other aviation companies in the region.

Arbitration Outcome: Embraer S.A. shares fell after the conclusion of arbitration with Boeing, resulting in Boeing agreeing to pay Embraer $150 million related to the termination of a $4.2 billion Master Transaction Agreement in April 2020.

Financial Performance: Embraer's adjusted free cash flow was negative $215 million in Q2 due to increased working capital needs, while the company also secured a contract to sell up to six A-29 Super Tucano aircraft to the Uruguayan Air Force, with deliveries starting in 2025.